RESEARCH TRIANGLE PARK, N.C., Dec. 8 /PRNewswire/ -- SCYNEXIS Europe and GeneCare Research Institute Co Ltd in Kamakura, Japan, have announced details of a new deal between the two companies.

Under the terms of the agreement, SCYNEXIS will provide a range of drug discovery, synthesis and purification services to support GeneCare Research Institute's on-going work in the field of anti-inflammatory drugs. Using SCYNEXIS's proprietary HEOS(TM) operating system, hit explosion work will be undertaken to develop high-purity compound libraries for subsequent screening by GeneCare Research Institute. HEOS(TM) will also be used for rapid lead optimization to identify clinical candidates.

This is the first time in its history that GeneCare Research Institute has used a drug discovery organization to accelerate its drug discovery program. Terms of the deal were not disclosed.

Commenting on the development, Dr Yasuhiro Furuichi, GeneCare Research Institute's CEO said: "I fully expect that our anti-inflammatory drug- discovery program will be hastened through our collaboration with SCYNEXIS. We have entered into a new era in which a young, relatively small biotech company like GeneCare Research Institute can forge an international alliance with a company like SCYNEXIS for the mutual benefit of both organizations. I look forward to many more such deals."

Meanwhile, Yves J. Ribeill, President and CEO of U.S.-based parent SCYNEXIS, Inc., said: "this latest deal is our first external collaboration in the area of anti-inflammatories. Following on from earlier announcements with Roche and Merck, it sends a very strong signal about our continued growth and the quality of work with both pharma and bio-pharma sectors."

Notes to Editors

SCYNEXIS is headquartered in Research Triangle Park, North Carolina with European operations, SCYNEXIS Europe Ltd., located near Cambridge, England. By combining its chemists' expertise with its proprietary MEDCHEM-FACTORY(TM) technology and Hit Explorer Operating System (HEOS(TM)), SCYNEXIS is increasing the productivity and speed of the pharmaceutical discovery process. As an innovator in the field of high-speed synthesis with special expertise in the area of automation, SCYNEXIS is reshaping the process of discovery and optimization of new, promising chemical compounds.

SCYNEXIS provides a full range of highly integrated synthetic chemistry processes and technologies to the life sciences industry -- From Concept To Clinic(TM) -- representing the next step in the industrialization of the drug discovery process. SCYNEXIS offers, in addition to its patented MEDCHEM- FACTORY(TM) technology, novel hit generation compounds, hit explosion and lead optimization services as well as process optimization, the production of clinical samples in its GMP facility and radiochemistry synthesis services. For more information, please visit http://www.scynexis.com/ .

GeneCare Research Institute Co Ltd was established in December 2000 and began operations in April 2001. Headquartered in Kamakura near Tokyo, it was formed by scientists from AGENE Research Institute Co Ltd, the forerunner of GeneCare Research Institute. The company focuses on drug discovery, including anti-cancer and anti-inflammatory therapeutic agents, as well as on the development of tailor-made diagnostic systems. Much of its work is based on the patents and technology of AGENE and those obtained by merger and acquisition.

CONTACT: Media Contacts, Europe, Andy Matthews of O2PR,+44-0-1223-309500, or andy.matthews@o2pr.co.uk; or US, Rick Rountree of RickRountree Communications, +1-919-786-0872, or rountreecom@mindspring.com; orKyuji Rokugawa, Ph.D. of GeneCare Research Institute, +81-0-467-46-9590, orrokugawa@genecare.co.jp; or Business Development Contacts, Europe, SimonSaxby, +44-0-1277-367001, or simon.saxby@scynexis.com, or US, Terry Marquardt,+1-919-544-8600, or terry.marquardt@scynexis.com, both of SCYNEXIS; or KyujiRokugawa, Ph.D. of GeneCare Research Institute, +81-0-467-46-9590, orrokugawa@genecare.co.jp